Public and private investment activity will revive in 2019-2020, after being restrained last year. Employment and incomes continue to rise swiftly and drive household consumption; the unemployment rate is expected to decline to 5% already this year. External demand will remain strong in 2019 but will weaken in the coming years. We project GDP growth to slow down to 3.2% in 2019, 2.7% in 2020, and 2.4% in 2021.

map Estonia
Main Economic Indicators201620172018201920202021
Population, 1000 persons131613171322...
GDP, real change in %
GDP per capita (EUR at PPP)225002360025100...
Gross industrial production, real change in %
Unemployment rate - LFS, in %, average6.
Average gross monthly wages, EUR114612261310...
Consumer prices, % p.a.
Fiscal balance in % of GDP-0.3-0.4-0.6...
Public debt in % of GDP9.29.28.4...
Current account in % of GDP2.
FDI inflow, EUR mn84514031005...
Gross external debt in % of GDP88.482.677.4...

Basic data are continuously updated.

* Forecasts are changed beginning of March, July and November.
See Press Conferences.


Monthly Report No. 6/2019

Vasily Astrov, Rumen Dobrinsky, Richard Grieveson, Doris Hanzl-Weiss, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter, Hermine Vidovic and Goran Vuksic
wiiw Monthly Report No. 6, June 2019
27 pages including 24 Tables and 1 Figure



ESTONIA: At full capacity – heading for a soft landing

Sebastian Leitner
in: Moving Into the Slow Lane
wiiw Forecast Report No. Spring 2019, March 2019 , pp. 84-87
Details and Buy